All Forum Posts by: Sonia Hodgin

So I found out my broker was creating invoices with licensed contractor bids, hiring scum! What happened next? After firing the brokerage-broker that is a property management I found that being in a different state didn’t mean absentee! Rentredi is a platform for 7.00 a month, to manage tenants, tenants to create repair tickets, house documents and leases and even market when vacant. It does back ground screening, collect payments. It even synchronizes with quick books for easy tracking for my CPA. Then I found the challenge who will open the doors to show vacant homes? Well... rently is your solution. It takes client credit card information of Your potential tenants and allows them a one time showing code! They can view the home and if they need to see it again, a new code generates. They can even critique the property. I use it for my contractor, handy man and tenants. 30.00 a month per box. The platform you can add prescreening of other properties coming up soon to the market so when you are ready, you have an offer in hand if not a tenant ready to move in after completion at no additional charge. No need for bad realtors or property management that just keep taking, put more in your homes and in your pocket!

Investment Info:

Retail buy & hold investment in Pueblo.

Cash invested: $268,000

1,700,000 revenue liquor store, recently renovated and updated in new design and technology. Ready for a new look, new name and better products!

What made you interested in investing in this type of deal?

1,700,000 annual revenue, free standing building with its own parking lot, high in demand location.

How did you find this deal and how did you negotiate it?

I found it in Nevada at a trade convention.

How did you finance this deal?

Loan

How did you add value to the deal?

Loan, remodel of the whole property, stripped to the bone.

What was the outcome?

Soon to open.

Lessons learned? Challenges?

Lots of challenges. A scam company of pavement, guy looking to make a buck. So cost more to not only start over but remove the terrible layers. So many claim they have a license but most don’t. Lots had terrible contract and businesses, But the rest like structural Engineer and planner, inspectors, electrician, large paving company, roofer (new commercial roof), plumbing and the rest came together as soon as they had to follow structure of a plan and permits. That took care of the fakes!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No